Retirement Planning - Monday, page-15

Good Intra-day Buying. Monday Evening Liqueurs. 15 June, 2015.

XJO down marginally -0.12%. Intra-day saw a great recovery with the XJO rising 0.86% from its low which occurred around 10.30.a.m. The early fall was not unexpected given events on Friday night in Europe and America. But the Ozzie market shrugged off most of that negativity.

Here's the Chart for the XJO:



The long tail on today's candle tells the story of how powerful the intra-day buying was today.
The chart remains above the 5-Day MA - so that's short term bullish. We're still a bit away from major overhead resistance.

Only two S&P Sectors rose to the positive side today - Financials (XFJ) and Industrials (XNJ). Here's the daily Sector Performance chart:



The big loser was Energy -2.4%. That usually has an effect on Utilities which was also down -1.2%.

Here's the Energy Chart (this sector is dominated by Woodside):



Energy showed a three-candle reversal pattern - but that may not mean much as XEJ is in a long sideways consolidation. Until it breaks out of that consolidation we'll get lots of ups and downs with short term patterns that look meaningful but come to nothing.

The Gold Miners took a big hit today, down -2.9%



Gold Mining Index has been in a sideways consolidation for a couple of months. Today it had a decisive move below both horizontal support and the 100-Day MA. I think we can look forward to more downside in the Gold Miners.

Today was positive (generally speaking). We need to see follow-through buying tomorrow to consolidate today's action.

RB